Vijay Kedia auto stock jumps 6% on receiving multiple orders worth Rs 420 crores

The shares of Talbros Automotive Components Ltd quoted 6 per cent higher till the afternoon on Friday at Rs 488 levels. The shares surged after the company announced that it has bagged orders worth Rs 40 crore. 

The auto components company received new multi-year orders worth Rs 420 crore from both domestic and overseas customers across its business divisions, product segments, and JVs. 

As per the regulatory filing by the company, the orders are to be executed over a period of the next 5 years covering product lines that include gaskets, heat shields, forgings, and chassis. 

Talbros Automotive Components Limited, the flagship manufacturing company of the Talbros Group is engaged in the manufacturing of Automotive & Industrial Gaskets. Talbros Group’s portfolio also includes a Mercedes Benz dealership for passenger cars. 

In Q2FY23, the company reported a total revenue of Rs 160.73 crore, an increase of 12 per cent from Rs 143.99 crore in the same quarter last year. Their net profit in the period stood at Rs 10.03 crore as compared to Rs 8.93 crore in Q2FY22. 

The auto ancillaries company has a market capitalization of Rs 606 crore and a dividend yield of 0.51%. 

The stock is a part of not one but two ace investors in India. Vijay Kedia holds a 2.3 per cent stake in the company with an investment value of Rs 13.7 crore. In addition to that, Dolly Khanna holds a 1.2 per cent stake with a holding value of Rs 7.3 crore. 

Written by Anoushka Roy

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